3910 1040, Millcreek, UT 84124
16BD/—BA Residential in Millcreek, UT 84124. 7,376 sqft. Built 1968. Listed at $2,100,000. MLS #2151403.
16BD/—BA Residential in Millcreek, UT 84124. 7,376 sqft. Built 1968. Listed at $2,100,000. MLS #2151403.
Marcus & Millichap is pleased to present this exclusive listing of a core+ multifamily asset in Salt Lake City's Millcreek corridor, one of the region's most resilient rental submarkets. The property is being offered individually as part of a two-property, 16-unit portfolio, with the seller preferring a package sale but willing to consider individual offers. The investment thesis is straightforward: in-place cash flow paired with clearly defined upside through natural tenant turnover and ancillary income strategies. In-place rents reflect a tenured resident base, with an average tenancy of approximately two and a half years, signaling stability while presenting a mark-to-market opportunity as units turn. The asset benefits from strong demographic tailwinds driven by Utah's sustained population growth and a widening mortgage-to-rent affordability gap that continues to push would-be buyers into the rental market. Square footage figures are provided as a courtesy estimate only. Buyer is advised to obtain an independent measurement. Do not disturb tenants. Contact listing agent for financials or to schedule a tour.
Property Type
Residential
Property Style
> 4 Units
Architectural Style
Stories: 2
Subdivision
PLAT A
County
Salt Lake
Lot Size
0.28 sq ft
Condition
Blt./Standing
MLS #
2151403
Property Type
Residential
Property Style
> 4 Units
Architectural Style
Stories: 2
Subdivision
PLAT A
County
Salt Lake
Lot Size
0.28 sq ft
Condition
Blt./Standing
MLS #
2151403
List Price
$2,100,000
Annual Taxes
$12,803
Home Warranty
No
List Price
$2,100,000
Annual Taxes
$12,803
Home Warranty
No
Covered Spaces
8
Total Parking
12
Covered Spaces
8
Total Parking
12
Elementary
James E. MossMiddle School
BonnevilleHigh School
CottonwoodSchool District
Granite
$650,000
+223% vs median
43 days
109
$214,000 – $4,695,000
$12,803
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